Six-Unit Renovated Apartment
For Sale
$1,988,000
1565 70th Street, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size4,680 SF
Lot Size0.05 Acres
Price / SF$424.79
Days on Market87
Property Features for 1565 70th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
18
Bathrooms
7
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 7, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 8, Bathroom 6, Bedroom 15, Bathroom 4, Bedroom 18, Bedroom 4, Bedroom 17, Bedroom 10, Bathroom 5, Bedroom 11, Bedroom 14, Bedroom 3, Bedroom 6, Bedroom 13, Bedroom 12, Bedroom 9, Bathroom 1, Bedroom 7, Bedroom 16, Bathroom 3
Interior features
Stove
Basement
Finished, Full
Subdivision
Bensonhurst
Standard status
Active
Size
4,680 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
20768
Building Details
Year built
1926
Floors in Building
3
Number of units
6
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Emily Hui Chen-Liang · License #HTL8672
(718) 256-4000
Added: Jun 23
Changed: Sep 16
Last Checked: Sep 17 at 9:06PM
MLS# 502527
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 1565 70th Street in Brooklyn, this 4,680-square-foot apartment building contains six residential units on a 0.0459-acre lot. The property was built in 1926 and renovated in 2011, with improvements including structural steel beam reinforcement, updated plumbing and sewer lines, upgraded electrical service, new windows, a metal staircase, and reconfigured kitchens, bathrooms, and flooring.
The unit mix includes two three-bedroom apartments with living rooms and four three-bedroom residences featuring large eat-in kitchens. Each unit has its own heating and hot water system. The brick building also includes a basement currently used for storage, with delivery vacant at closing. Tile and hardwood flooring, a flat roof, and R5 zoning complete the property profile.
The unit mix includes two three-bedroom apartments with living rooms and four three-bedroom residences featuring large eat-in kitchens. Each unit has its own heating and hot water system. The brick building also includes a basement currently used for storage, with delivery vacant at closing. Tile and hardwood flooring, a flat roof, and R5 zoning complete the property profile.
Key Highlights
- Six residential units, including two three‑bedroom apartments with living rooms and four three‑bedroom units
- 4,680 square feet on a 0.0459‑acre lot
- Renovated in 2011 with structural, plumbing, sewer, electrical, window, and interior upgrades
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,876
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,857,520
$2.9M
Cap Rate 7%
$2,041,086
$2.0M
Cap Rate 9%
$1,587,511
$1.6M
Market Conditions
NOI Build-Up for 4,680 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$265.1K $56.64/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$259.8K $55.51/SF
− OpEx
−$116.9K −$24.98/SF
NOI
$142.9K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,857,520
Cap Rate 7%
$2,041,086
Cap Rate 9%
$1,587,511
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,876 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.88M
$3.39M – $4.52M
NOI $271,253 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - R5-zoned multifamily property with separately controlled heating and hot water systems for each residence.
Where is this apartment building located?
The property is located at 1565 70th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: Six residential units, including two three‑bedroom apartments with living rooms and four three‑bedroom units; 4,680 square feet on a 0.0459‑acre lot; Renovated in 2011 with structural, plumbing, sewer, electrical, window, and interior upgrades
